Stacks (STX)- Top Gainer of the Day

Stacks (STX)- Top Gainer of the Day
  • The STX coin’s technical chart shows an upward trend.
  • A retest of the $2.435 neckline will signify an outstanding long opportunity.

Stacks is a layer-1 blockchain solution aimed to introduce smart contracts and Dapps to Bitcoin (BTC). These smart contracts are added to Bitcoin without compromising its powerful features, such as stability and security. The STX coin’s technical chart shows an upward trend. On October 18th, the currency began a minor correction that hit a new low of $1.73. A strong rebound from this retreat means the price may shortly revisit the All-Time barrier of $2.81.

In October, the STX coin price began a great climb, retesting the All-Time barrier of $2.8. After enough selling pressure from this level, the currency started a retracement phase that took it to $1.783.

Broke Resistance at $2.8 Price Level

The STX price showed strong demand below this support, which aided the surge. The coin also features a Cup and Handle design, with a neckline of $2.8.This neckline was at last broken,  and now the next Fibonacci extension level resistance is $3.4, followed by $4.15. The Relative Strength Index (64) also remains optimistic.

STX/USDT: Source: TradingView

In the lower time frame chart, the STX coin revealed another bullish pattern, a double bottom pattern. A retest of the $2.435 neckline will signify an outstanding long opportunity for traders if the stock holds its retest phase.

Even the list of top 10 coins by Altrank in the last 24 hours, had Stack listed at number six. The official Twitter handle of Stacks retweeted the tweet.

According to CoinMarketCap, the Stacks price today is $2.96 USD with a 24-hour trading volume of $1,324,294,507 USD. Stacks have been up 23.93% in the last 24 hours.

Furthermore, the current CoinMarketCap ranking is 51, with a live market cap of $3,814,326,360 USD. It has a circulating supply of 1,286,591,021 STX coins and a max. supply of 1,818,000,000 STX coins.

Content writer by profession. A crypto lover and has passion for writing. Follows the developments of digital currency right from its launch, years ago.